MannKind Agrees to Cross License Deal With Pulmatrix-March 2024-www.financetom.com

MannKind Agrees to Cross License Deal With Pulmatrix

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MannKind Agrees to Cross License Deal With Pulmatrix

May 29, 2024 8:28 AM

11:09 AM EDT, 05/29/2024 (MT Newswires) -- MannKind ( MNKD ) said Wednesday it has agreed to in-license Pulmatrix's ( PULM ) iSPERSE technology for certain indications in exchange for an out-license to its Cricket inhaler for inhaled delivery of dihydroergotamine for migraine treatment.

The two companies also agreed that Pulmatrix ( PULM ) will transfer its Bedford, Massachusetts R&D facility to MannKind ( MNKD ), along with all leasehold improvements, laboratory equipment and other related personal property used in the laboratory in non-cash transaction.

The deal is expected to close in July. Financial terms were not disclosed.

MannKind ( MNKD ) shares were more than 3% lower in recent trading, while Pulmatrix ( PULM ) was more than 4% higher.

Price: 4.47, Change: -0.17, Percent Change: -3.56

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